Transcripts For CNBC On The Money 20160820 : vimarsana.com

Your money, your life, your future. Now becky quick. We begin with your privacy and social media. The next time youre on vacation or maybe at a ball game, everything you post on social media may be monitored by the company youre visiting. We have more from one hotel chains high tech command center. At marriotts corporate headquarters, they call this glass enclosed room m live. Employees constantly monitor social media platforms such as twitter, instagram and facebook. Its really about a personal relationship that were having with our customer. Every day more than 300,000 guests post on social media from a marriott property. Executives know this because of a technology called geo fencing. That means basically in the area around a hotel the conversations that are on social media, we can tell whos geographically around that hotel. Each yellow dot is a hotel location. Marriott has geo fenced more than 4,000 Properties Worldwide and they watch as guests post about everything from the fish tacos they had for lunch to pool selfies. When folks post about a birthday or engagement, the team can notify the manager of the hotel. That guest can get a bottle of champaign, a free bot dinner or room upgrade. Its meant to make you feel special. The idea, do you worry that that creeps out your customers . We think the people who are actually on social media are delighted at the ability to have us amplify their conversation. The ceo of the Company Behind this platform, piper, says investors frequently ask about privacy. Hes quick with a response. Interacting with people that have shared their content. Marriott is surprising their guests. Not to try to sell them something, but to try to elevate their experience. Thats marriotts goal. Geo fencing not a new technology. Its been around for years. More and more companies are starting to use it. Why are we hearing about it . The data stream that makes this possible has gotten better through the years. The idea of geo fencing, yes, has been around through the years. The specificity has increased over time. In addition, it took a while. You need companies to create the platforms that can help do this. Taken some time. Exactly. Michelle, thank you very much. By the way, marriott, if youre listening, its my birthday today. Big question, is this an invasion of privacy or just a way to improve Customer Service. This is ed lei. Thanks for being here. Sure. What is this, how does this work and should i worry about how theyre tapping my location . This feels creepy. A lot of consumers who are seeing this, what in the world is this, how is this happening . At the same time, the idea that err this pelg from or mining from your public feed, posting something on twitter or instagram, the implication is you want the world to see it. In other words, dont do this if you dont expect people are going to see it and pick up on it. Youre willing to let the world know whats going on. Companies like marriott are just taking advantage of that. Thats probably smart on their end. I guess the question of how the customer feels about it probably depends on what i get out of it. If its something where youre making me feel better about the experience ive had or responding to a criticism or something that ive complained about online, thats great. If youre using that information to market to me, i might not like it. The part of the contract or the implied contract between consumer and the internet or the third party in this case, marriott, thats still being worked out. Thats still sort of being discussed. I could think whats interesting is unlike calling our Customer Service phone line where you tend to not get great response all the time as opposed to if you complain on twitter, you get a bounce back from a company, hey, were trying to solve the issue, can you dm me, well clear it up. Thats interesting. What it tells us is the social media aspect of this is the thing that in a lot of ways is whats spurring these companies to respond. Im not just calling you and complaining, im shaming you publicly. Exactly. The fact that im saying this out loud forces the company to respond as opposed to the oneonone conversation youre having on the phone where no one sees it except for you. Thats the advantage of technology. At the same time, the flip side is if youre going to Say Something nice about my company or the marriott, im going to take advantage of it. I think some people like that, too. Do you think that this is all companies are kind of getting up to speed on this because theyre forced to buy social media or is this a few enterprising companies ahead of the curve . Right now i think its a few. I think its the companies that tend to receive a lot of complaints. Cable companies, for example, or airlines we keep bringing up, but i do think over the longer term, yes, almost every company out there is going to have to sort of engage in some form or another because thats now sort of part of your marketing plan one way or another. Cant ignore it. Do you think customers realize that theyre participating in this as it happens or do they think this is oh, somebody happened to see it, wow, what a great could he incidence . Thats a great point. Theres still a big learning curve for consumers and tech nothing. It behooves them to get on it. If you want to use the internet and participate in the internet, you have to learn about it. Its not easy. Its always changing. Yeah, thats tough. Thats hard. The internet in a lot of ways isnt really regulated. The government is still trying to sort out to what degree to step in and to what degree should they step back. Its still being formed. The more consumers are saying something, i didnt know this, you should have alerted me, the more government will want to step in. Its still a little bit of the wild west but we are starting to learn the rules of the road. Exactly. Ed, thank you very much for coming in. Sure. Any time. Now heres a look at whats making news as we head into a new week on the money. We now know whats on the feds mind. The janet yellen fed released minutes. Members said the door is still open to a rate hike this year and another increase would be soon warranted. Of course, when soon is, that is the question. The fed next meets in september. The fed meeting didnt do too much for the stock marked but the dow did put together a twoday winning streak by thursday. That was its first in 20 days. The dow closed at an alltime high on monday. The nasdaq and the s p closed at alltime highs on monday. Stocks fell on friday though. If you are planning on flying over labor day, guess what, you wont be alone. Airlines for america says that 15. 6 million passengers will take to the skies over the seven day Holiday Travel period. That would be up 4 from a year ago. The busiest days are expected to be thursday and friday, september 1st and 2nd, so happy holidays. Up next were on the money. Why do drug prices seem to defy gravity . The prices seem to go up and up but there may be a novel way to deal with it. Avoiding the boomer brain drain. Companies making it easier for boomers to stay on the job. Right now as we head to break take a look at how the stock market ended the week. The shift in drug prices seem to go in one direction, and that is up. The cost of namebrand medications increased by 15 just last year. At the same time, pharmaceutical companies are developing some break through medications to try to combat cancer, hepatitis and other deadly and chronic diseases. The two are certainly linked, but is there a solution to the pricing problem. I recently spoke to dr. Ken davis. He is president and ceo of the Mount Sinai Health system. The opportunity that biology is providing us is giving us a lot of these amazing compounds and the case studies of course, the hepatitis c drugs. We have these drugs that can wipe out this horrible disease and wipe out an epidemic, but the cost is so prohibitive. So well never stop the epidemic this way if we cant afford the drugs. Why are the drugs so expensive . The gilead people will tell you that they priced this drug as high as they did because it saves so much money downstream. It saves the Health Care System so much money. But thats a new conceptualization of how to price drugs. Imagine if we had priced the polio vaccine that way. If we had used that as the basis to charge for the vaccine, we wouldnt have given it to everybody. I remember i was in Something Like second or third grade and we got it free. Whats happened is the question . How have the values of some of the companies changed so drastically from were going to do good and do well at the same time to were going to do good and were going to charge whatever we can charge because thats what the market will bear . It probably makes a little sense to look at whats happening around the globe. Other countries are negotiating very heavily with the Drug Companies and as a result they end up getting a lot of the products from the United States. Thats part of the problem. The problem is we havent considered this as a trade issue. We havent recognized that people in the u. S. Market shouldnt pay the whole price of research and development because the rest of the world is regulated. This is unfair to this country. Should we be able to negotiate prices here in the United States just like we do medicare does right now for the price of a hospital stay . Right. The Drug Companies would argue that if we did that, they would lose their margins, they would lods their research and development capability. I mean, others would argue that when you have multiple drugs that have fundamentally the same mode of action for the same disease, that you should allow those to compete and medicare to say, were going to negotiate with drug x, with company x at a different price and thats the only one thats going to be on the formula. Doesnt that kill competition though . If you have competing drugs and we say were only picking this one as a winner, you have that, but now youre now youre basically knocking out all competition. The government wont pay for it. What youre saying is unless your price comes down we wont pay for it. What happens after the competition gets driven out . Thats what the Drug Companies would argue. Then they dont have a market and they cant afford the development of the next drug. However, when you get back to some of these brandnew drugs, new development ones, cancer drug that costs 100,000, sometimes there is no alternative. Thats the concern. And thats the issue with the hepatitis c drugs. Until there are more drugs that do the same thing, theyve got a de facto monopoly. Have you made this case to the Drug Companies . And what is their response . I think theyre very frightened of what could happen. Frightened enough to limit the bad behavior . I dont know. Frightened enough to sit down and say, you know, 10 return on investment is adequate. Dr. Davis, thank you. It is always a pleasure talking to you. Great to be with you. Up next, were on the money. The pesky boomers arent the shy and retiring type. How they are still shaking things up when it comes to the work force. Later, the kids are heading back to school soon and for parents that means relief oh, yeah, and more shopping, too. Were going to tell you about the best apps to find back to school bargains. Cathys gotten used to the smell of lingering garbage. In her kitchen yup, shes gone noseblind. She thinks it smells fine, but her guests smell this. Ding, flies, meow febreze air effects heavy duty has up to. Two times the odoreliminating power to. Remove odors youve done noseblind to [inhales] mmm. Use febreze air effects, till its fresh and try febreze small spaces. To continuously eliminate up to two times the odors. For 30 days febreze small spaces and air effects, two more ways. [inhale exhale mnemonic] to breathe happy. Thousands of baby boomers are retiring each day, but that doesnt mean that theyre taking this next step sitting down. Just like they have before, this generation is continuing to shake things up. Karen epperson joins us with that story. Hi, karen. Hey, becky. Retirement used to mean trading a briefcase for a set of golf clubs. That trend is changing as boomers want to continue to work and Companies Want to keep them on the payroll. 63yearold randall still enjoys coming to the office every day. There are a lot of interesting, bright people here. Theyre fun to be with. But after nearly 30 years of work, the last 11 spent with a furniture designer Herman Miller, he says hes ready for a change. Im part of the baby boomer generation and we get to remake everything, right . So for me i use the word retirement sort of reluctantly. Baby boomers are known for redefining life at every turn and retirement is no different. The generation is active, engaged and interested in continuing to work in some capacity as they age. I see it as a transition from, you know, the work that im doing now to some other kind of work. More than 46 million americans are already 65 or older and that age group is growing fast. About 10,000 baby boomers retire and leave the work force every day. Its a shift thats starting to have an effect on Companies Big and small. Theres going to be a need for employers to hang on to these older workers, these experienced workers because they dont want that brain drain. As you look down the road, the pipeline, theres not as many younger workers coming along. Some Companies Like Herman Miller are being pro active avoiding the boomer brain drain. We realize if all of them or half decided to leave the business, it would be detrimental to us. In response the Company Began what it calls a flex Retirement Program open to employees like braaksma who are 60 and older. It allows the workers to slowly transition to retirement for up to two years while at the same Time Training sbun to take their place. Capturing what that person does, how they do it, what the nuances are, the things that arent written down in a Job Description so its vitally important that you put something in place to catch this before it goes because once theyre gone, theyre gone. Four years into the program its been a success for the furniture manufacturer and its workers. Im earning less but that also gives me a chance to look at personal finances and see, can we make it work . Flex programs like this one allow boomers to give retirement a test run at work and at home before leaving an organization for good. And while only a handful of Companies Offer them, experts we talk to say thats likely to change, becky. What happens if youre at a company that doesnt offer that. How do you negotiate, get Something Like this worked out . I think you should be up front to your boss and explain why this works for the company, not just for you. Talk about what your expertise has been, what your experience has been and how youll continue to have those skills and use those skills to continue to do projects and assignments. Think about who may take your place to cover the daytoday that you may not be doing anymore and also think about how youre going to be able to pay for all of this if you do, as the case of randall, taken a pay cut. Have you saved enough . Will you be able to retain health and retirement benefits. Sharon, thank you. Sure. Up next on on the money a look at the news ahead. The school year is about to start. The Shopping List is adding up. How can you keep the costs down . We have the best apps for bargaininring barrings bargains. Thats coming up. Here are the stories coming up that may impact your money this week. On monday the latest new home Sales Numbers come out. Well get another look at real estate on wednesday. Thats when we get the existing home sales number. On thursday its the durable goods number. That will tell us how busy the factories have been. On friday fed chair janet yellen speaks in jackson hole, wyoming, after she skipped the event last year. Well also get another reading of the Second Quarter Gross Domestic Product and get ready for some puppy love. Friday Marks National dog day so make sure you buy some extra treats so you can celebrate with fido. 75. 8 billion, thats how much American Families plan to spend on back to School Shopping this year. That is up from last years 68 billion according to the National Retail federation. Now a lot of money by any stretch of the imagination, but you can save some money if you know where to look. Joining us right now to talk about the best app for back to school discounts is jennifer owen. She is the editorial director of working mother. Thank you for being here. Thanks for having me. If you are a busy mom, and i think every mom is if youre on the run . Yeah, right. What is the way to go about this . Are there apps that can make life easier. My favorite is retail me not. Not . Not. You can do it on the phone or i do a lot of my shopping on the couch. Any time im about to check out. Check retail me not, type in my son wears all old navy. Old navy, theyll tell you, give you the promos. You can quickly use it. You can do it as youre waiting in line. Snip snap . Snip snap, do you remember the folders that your mom carried. Oh, yeah. This is a digital version of that. You can download coupons from their app or your own, scan them and then its going to sort them for you by expiration date, region. All of that stuff thats in your phone, they can put the coupons to work for you and then you can actually use them. What if youre the oldfashioned type that likes to go through circulars . Retail. So retail, which is retale. They will collect the circulars in your area. You can put in something youre looking for and it will alert you, oh, it just popped up. Thats cool. I have used things in the past like Loyalty Programs for different places . Yes. Is there any way i can see where im building up big bucks, where i could get some good savings . Dont we all join Properties Worldwide<\/a> and they watch as guests post about everything from the fish tacos they had for lunch to pool selfies. When folks post about a birthday or engagement, the team can notify the manager of the hotel. That guest can get a bottle of champaign, a free bot dinner or room upgrade. Its meant to make you feel special. The idea, do you worry that that creeps out your customers . We think the people who are actually on social media are delighted at the ability to have us amplify their conversation. The ceo of the Company Behind<\/a> this platform, piper, says investors frequently ask about privacy. Hes quick with a response. Interacting with people that have shared their content. Marriott is surprising their guests. Not to try to sell them something, but to try to elevate their experience. Thats marriotts goal. Geo fencing not a new technology. Its been around for years. More and more companies are starting to use it. Why are we hearing about it . The data stream that makes this possible has gotten better through the years. The idea of geo fencing, yes, has been around through the years. The specificity has increased over time. In addition, it took a while. You need companies to create the platforms that can help do this. Taken some time. Exactly. Michelle, thank you very much. By the way, marriott, if youre listening, its my birthday today. Big question, is this an invasion of privacy or just a way to improve Customer Service<\/a>. This is ed lei. Thanks for being here. Sure. What is this, how does this work and should i worry about how theyre tapping my location . This feels creepy. A lot of consumers who are seeing this, what in the world is this, how is this happening . At the same time, the idea that err this pelg from or mining from your public feed, posting something on twitter or instagram, the implication is you want the world to see it. In other words, dont do this if you dont expect people are going to see it and pick up on it. Youre willing to let the world know whats going on. Companies like marriott are just taking advantage of that. Thats probably smart on their end. I guess the question of how the customer feels about it probably depends on what i get out of it. If its something where youre making me feel better about the experience ive had or responding to a criticism or something that ive complained about online, thats great. If youre using that information to market to me, i might not like it. The part of the contract or the implied contract between consumer and the internet or the third party in this case, marriott, thats still being worked out. Thats still sort of being discussed. I could think whats interesting is unlike calling our Customer Service<\/a> phone line where you tend to not get great response all the time as opposed to if you complain on twitter, you get a bounce back from a company, hey, were trying to solve the issue, can you dm me, well clear it up. Thats interesting. What it tells us is the social media aspect of this is the thing that in a lot of ways is whats spurring these companies to respond. Im not just calling you and complaining, im shaming you publicly. Exactly. The fact that im saying this out loud forces the company to respond as opposed to the oneonone conversation youre having on the phone where no one sees it except for you. Thats the advantage of technology. At the same time, the flip side is if youre going to Say Something<\/a> nice about my company or the marriott, im going to take advantage of it. I think some people like that, too. Do you think that this is all companies are kind of getting up to speed on this because theyre forced to buy social media or is this a few enterprising companies ahead of the curve . Right now i think its a few. I think its the companies that tend to receive a lot of complaints. Cable companies, for example, or airlines we keep bringing up, but i do think over the longer term, yes, almost every company out there is going to have to sort of engage in some form or another because thats now sort of part of your marketing plan one way or another. Cant ignore it. Do you think customers realize that theyre participating in this as it happens or do they think this is oh, somebody happened to see it, wow, what a great could he incidence . Thats a great point. Theres still a big learning curve for consumers and tech nothing. It behooves them to get on it. If you want to use the internet and participate in the internet, you have to learn about it. Its not easy. Its always changing. Yeah, thats tough. Thats hard. The internet in a lot of ways isnt really regulated. The government is still trying to sort out to what degree to step in and to what degree should they step back. Its still being formed. The more consumers are saying something, i didnt know this, you should have alerted me, the more government will want to step in. Its still a little bit of the wild west but we are starting to learn the rules of the road. Exactly. Ed, thank you very much for coming in. Sure. Any time. Now heres a look at whats making news as we head into a new week on the money. We now know whats on the feds mind. The janet yellen fed released minutes. Members said the door is still open to a rate hike this year and another increase would be soon warranted. Of course, when soon is, that is the question. The fed next meets in september. The fed meeting didnt do too much for the stock marked but the dow did put together a twoday winning streak by thursday. That was its first in 20 days. The dow closed at an alltime high on monday. The nasdaq and the s p closed at alltime highs on monday. Stocks fell on friday though. If you are planning on flying over labor day, guess what, you wont be alone. Airlines for america says that 15. 6 million passengers will take to the skies over the seven day Holiday Travel<\/a> period. That would be up 4 from a year ago. The busiest days are expected to be thursday and friday, september 1st and 2nd, so happy holidays. Up next were on the money. Why do drug prices seem to defy gravity . The prices seem to go up and up but there may be a novel way to deal with it. Avoiding the boomer brain drain. Companies making it easier for boomers to stay on the job. Right now as we head to break take a look at how the stock market ended the week. The shift in drug prices seem to go in one direction, and that is up. The cost of namebrand medications increased by 15 just last year. At the same time, pharmaceutical companies are developing some break through medications to try to combat cancer, hepatitis and other deadly and chronic diseases. The two are certainly linked, but is there a solution to the pricing problem. I recently spoke to dr. Ken davis. He is president and ceo of the Mount Sinai Health<\/a> system. The opportunity that biology is providing us is giving us a lot of these amazing compounds and the case studies of course, the hepatitis c drugs. We have these drugs that can wipe out this horrible disease and wipe out an epidemic, but the cost is so prohibitive. So well never stop the epidemic this way if we cant afford the drugs. Why are the drugs so expensive . The gilead people will tell you that they priced this drug as high as they did because it saves so much money downstream. It saves the Health Care System<\/a> so much money. But thats a new conceptualization of how to price drugs. Imagine if we had priced the polio vaccine that way. If we had used that as the basis to charge for the vaccine, we wouldnt have given it to everybody. I remember i was in Something Like<\/a> second or third grade and we got it free. Whats happened is the question . How have the values of some of the companies changed so drastically from were going to do good and do well at the same time to were going to do good and were going to charge whatever we can charge because thats what the market will bear . It probably makes a little sense to look at whats happening around the globe. Other countries are negotiating very heavily with the Drug Companies<\/a> and as a result they end up getting a lot of the products from the United States<\/a>. Thats part of the problem. The problem is we havent considered this as a trade issue. We havent recognized that people in the u. S. Market shouldnt pay the whole price of research and development because the rest of the world is regulated. This is unfair to this country. Should we be able to negotiate prices here in the United States<\/a> just like we do medicare does right now for the price of a hospital stay . Right. The Drug Companies<\/a> would argue that if we did that, they would lose their margins, they would lods their research and development capability. I mean, others would argue that when you have multiple drugs that have fundamentally the same mode of action for the same disease, that you should allow those to compete and medicare to say, were going to negotiate with drug x, with company x at a different price and thats the only one thats going to be on the formula. Doesnt that kill competition though . If you have competing drugs and we say were only picking this one as a winner, you have that, but now youre now youre basically knocking out all competition. The government wont pay for it. What youre saying is unless your price comes down we wont pay for it. What happens after the competition gets driven out . Thats what the Drug Companies<\/a> would argue. Then they dont have a market and they cant afford the development of the next drug. However, when you get back to some of these brandnew drugs, new development ones, cancer drug that costs 100,000, sometimes there is no alternative. Thats the concern. And thats the issue with the hepatitis c drugs. Until there are more drugs that do the same thing, theyve got a de facto monopoly. Have you made this case to the Drug Companies<\/a> . And what is their response . I think theyre very frightened of what could happen. Frightened enough to limit the bad behavior . I dont know. Frightened enough to sit down and say, you know, 10 return on investment is adequate. Dr. Davis, thank you. It is always a pleasure talking to you. Great to be with you. Up next, were on the money. The pesky boomers arent the shy and retiring type. How they are still shaking things up when it comes to the work force. Later, the kids are heading back to school soon and for parents that means relief oh, yeah, and more shopping, too. Were going to tell you about the best apps to find back to school bargains. Cathys gotten used to the smell of lingering garbage. In her kitchen yup, shes gone noseblind. She thinks it smells fine, but her guests smell this. Ding, flies, meow febreze air effects heavy duty has up to. Two times the odoreliminating power to. Remove odors youve done noseblind to [inhales] mmm. Use febreze air effects, till its fresh and try febreze small spaces. To continuously eliminate up to two times the odors. For 30 days febreze small spaces and air effects, two more ways. [inhale exhale mnemonic] to breathe happy. Thousands of baby boomers are retiring each day, but that doesnt mean that theyre taking this next step sitting down. Just like they have before, this generation is continuing to shake things up. Karen epperson joins us with that story. Hi, karen. Hey, becky. Retirement used to mean trading a briefcase for a set of golf clubs. That trend is changing as boomers want to continue to work and Companies Want<\/a> to keep them on the payroll. 63yearold randall still enjoys coming to the office every day. There are a lot of interesting, bright people here. Theyre fun to be with. But after nearly 30 years of work, the last 11 spent with a furniture designer Herman Miller<\/a>, he says hes ready for a change. Im part of the baby boomer generation and we get to remake everything, right . So for me i use the word retirement sort of reluctantly. Baby boomers are known for redefining life at every turn and retirement is no different. The generation is active, engaged and interested in continuing to work in some capacity as they age. I see it as a transition from, you know, the work that im doing now to some other kind of work. More than 46 million americans are already 65 or older and that age group is growing fast. About 10,000 baby boomers retire and leave the work force every day. Its a shift thats starting to have an effect on Companies Big<\/a> and small. Theres going to be a need for employers to hang on to these older workers, these experienced workers because they dont want that brain drain. As you look down the road, the pipeline, theres not as many younger workers coming along. Some Companies Like<\/a> Herman Miller<\/a> are being pro active avoiding the boomer brain drain. We realize if all of them or half decided to leave the business, it would be detrimental to us. In response the Company Began<\/a> what it calls a flex Retirement Program<\/a> open to employees like braaksma who are 60 and older. It allows the workers to slowly transition to retirement for up to two years while at the same Time Training<\/a> sbun to take their place. Capturing what that person does, how they do it, what the nuances are, the things that arent written down in a Job Description<\/a> so its vitally important that you put something in place to catch this before it goes because once theyre gone, theyre gone. Four years into the program its been a success for the furniture manufacturer and its workers. Im earning less but that also gives me a chance to look at personal finances and see, can we make it work . Flex programs like this one allow boomers to give retirement a test run at work and at home before leaving an organization for good. And while only a handful of Companies Offer<\/a> them, experts we talk to say thats likely to change, becky. What happens if youre at a company that doesnt offer that. How do you negotiate, get Something Like<\/a> this worked out . I think you should be up front to your boss and explain why this works for the company, not just for you. Talk about what your expertise has been, what your experience has been and how youll continue to have those skills and use those skills to continue to do projects and assignments. Think about who may take your place to cover the daytoday that you may not be doing anymore and also think about how youre going to be able to pay for all of this if you do, as the case of randall, taken a pay cut. Have you saved enough . Will you be able to retain health and retirement benefits. Sharon, thank you. Sure. Up next on on the money a look at the news ahead. The school year is about to start. The Shopping List<\/a> is adding up. How can you keep the costs down . We have the best apps for bargaininring barrings bargains. Thats coming up. Here are the stories coming up that may impact your money this week. On monday the latest new home Sales Numbers<\/a> come out. Well get another look at real estate on wednesday. Thats when we get the existing home sales number. On thursday its the durable goods number. That will tell us how busy the factories have been. On friday fed chair janet yellen speaks in jackson hole, wyoming, after she skipped the event last year. Well also get another reading of the Second Quarter<\/a> Gross Domestic Product<\/a> and get ready for some puppy love. Friday Marks National<\/a> dog day so make sure you buy some extra treats so you can celebrate with fido. 75. 8 billion, thats how much American Families<\/a> plan to spend on back to School Shopping<\/a> this year. That is up from last years 68 billion according to the National Retail<\/a> federation. Now a lot of money by any stretch of the imagination, but you can save some money if you know where to look. Joining us right now to talk about the best app for back to school discounts is jennifer owen. She is the editorial director of working mother. Thank you for being here. Thanks for having me. If you are a busy mom, and i think every mom is if youre on the run . Yeah, right. What is the way to go about this . Are there apps that can make life easier. My favorite is retail me not. Not . Not. You can do it on the phone or i do a lot of my shopping on the couch. Any time im about to check out. Check retail me not, type in my son wears all old navy. Old navy, theyll tell you, give you the promos. You can quickly use it. You can do it as youre waiting in line. Snip snap . Snip snap, do you remember the folders that your mom carried. Oh, yeah. This is a digital version of that. You can download coupons from their app or your own, scan them and then its going to sort them for you by expiration date, region. All of that stuff thats in your phone, they can put the coupons to work for you and then you can actually use them. What if youre the oldfashioned type that likes to go through circulars . Retail. So retail, which is retale. They will collect the circulars in your area. You can put in something youre looking for and it will alert you, oh, it just popped up. Thats cool. I have used things in the past like Loyalty Programs<\/a> for different places . Yes. Is there any way i can see where im building up big bucks, where i could get some good savings . Dont we all join Loyalty Programs<\/a> . Skbl yes. So flock. Flok. It will track your various prices. If youre in the region, youre right by the foot locker or whatever youre buying for your son. It will tell you what is there. I personally am not an alerts person because i get enough emails. I would like to go in and look and come out. Im with you on that. For my credit card i get a cash back. I love that. Is there anything like that for stores . My personal favorite for that is ebates. They have an app and a browser version. You sign up and theyre tracking where youre purchasing and getting cash back but if youre open to that, and i am, say im back at old navy buying my sons swim shirt, which i just had to do, ill go into ebates. It will track ebates has an online deal for old navy or any coupons. You dont do anything else. It will take you right back to old navy. You get the cash back, 4 , 2 . Every month i get literally whats called a big fat check which is about 15 to 20 bucks in our house and ill take it. Jennifer, thanks for the advice. Thank you so much. Good to see you. Same here. Thats the show for today. Im becky quick. Thank you so much for joining us. Next week, one way to make sure you have enough income for retirement. Remember, every week keep it right here. Were on the money. Have a great one and well see you next weekend. I asked my dentist if an electric toothbrush was going to clean better than a manual. He said sure. But dont get just any one. 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A rodeo racer who turned a lifelong love of horses into a sevenfigure steed empire, and two best friends with fancy educations","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia800508.us.archive.org\/29\/items\/CNBC_20160820_093000_On_the_Money\/CNBC_20160820_093000_On_the_Money.thumbs\/CNBC_20160820_093000_On_the_Money_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240625T12:35:10+00:00"}